Business News

Zuckerberg to sell Facebook shares worth about $2.3 billion

Facebook Inc founder and CEO Mark Zuckerberg will sell 41.4 million shares worth about $2.3 billion to pay a tax bill, as part of an offering by the social network of 70 million Class A common shares. Facebook shares, which have doubled in value this year, were down 4 percent […]

AIG sells aircraft leasing wing to focus on insurance

Insurer American International Group Inc (AIG.N) said on Monday it will sell its aircraft-leasing business to AerCap Holdings NV (AER.N) for $5.4 billion, after four years of trying to divest its biggest non-insurance business in fits and starts. The insurer, which was nearly wiped out by derivative bets during the […]

Qualcomm promotes Mollenkopf to CEO, ends Microsoft talk

Qualcomm Inc, the world’s biggest maker of cellphone chips, unexpectedly named Chief Operating Officer Steve Mollenkopf as chief executive on Friday, heading off the possibility he might be poached to run Microsoft Corp. Mollenkopf had been in line to eventually succeed CEO Paul Jacobs, the 51-year-old son of a Qualcomm […]